Standard Chartered Bank Uganda has launched a groundbreaking product known as SC Shilingi Funds, revolutionizing the investment landscape for Ugandans.
As the first financial institution to introduce such a product in the market, Standard Chartered Bank is paving the way for small-scale, flexible local currency investments. SC Shilingi Funds operate as a collective investment scheme, allowing local investors to pool their resources into a professionally managed fund starting with a minimum investment of just Ugx 20,000.
Standard Chartered Bank Uganda’s CEO, Sanjay Rughani, emphasized the product’s purpose of empowering the Wanainchi (common people) and contributing to Uganda’s journey to becoming a middle-income country.
Mr. Keith Kalyegira, CEO of the Capital Markets Authority, highlighted the importance of investor protection and urged individuals to choose regulated service providers.
Spearheading this initiative is Moses Rutahigwa, the Head of Consumer Private and Business Banking who highlighted the technological capabilities that make SC Shilingi Funds accessible to investors with smartphones.
While speaking at the event, Hon. Chris Baryomunsi, the Minister of Information, Communications Technology and National Guidance, commended the bank for its practical solutions to address the financial challenges faced by the tech-savvy generation.
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